Quote of the Day: On the Dem Presidential Campaigns Negatively Influencing Economy
First, the setup from Reuters:
DETROIT, April 1 - U.S. auto sales dropped 12 percent in March in a decline blamed on shaky consumer confidence, high fuel prices and concern that a housing market downturn could spread into a full recession.
Next, the specifics, at the same link:
- GM — down 13%.
- Chrysler — down 13.2%.
- Ford — down 7.6% (I know it would be politically incorrect to suggest that maybe Ford did better than the first two listed here for the first time in a while because of a bit of pent-up demand from the American Family Association boycott that was lifted three weeks ago; so pretend I didn’t say it :–>).
- Toyota — down 3.4%.
- Nissan — up 3.6%.
- Honda — up 4.2%.
Finally, the Quote of the Day, at that very same link (bold is mine):
“I think the main weakness is consumer confidence,” said GM sales chief Mark LaNeve. “It’s (mortgages) resetting. It’s worry about the news. It’s presidential candidates telling you how bad it is. It’s Bear Stearns.”
Remember, I didn’t say it; he did.
The American people would like to NOT thank the presidential candidates I refer to as BOOHOO (Barack O-bomba Overseas Hussein “Obambi†Obama) and HR4C (Hillary Rodham Cackling Crying Complaining Clinton) for their parts in talking down the economy, and in making it more difficult than it would otherwise be for the blue-collar, unionized workers they profess to love and support to hold on to their jobs.
I think many people and especially business people are waiting to see what the tax situation is going to be. Once they find out who is elected then they will make their plans and adjust their business accordingly. Right now nobody knows what’s going to happen. So the net result of that is a slowdown. Makes sense to me.
Comment by Timothy A. Jumonville — April 3, 2008 @ 4:20 pm
So Hillary and Barack are to blame for our faltering economy, and they did it just by talking?
It couldn’t possibly have anything to do with the trillions Bush has added to our national credit card. Or Bush’s lack of a coherent energy policy. Or Bush’s failure to adequately regulate the mortgage industry. Or his complete flushing of a trillion dollars in Iraq.
Tom, anyone who buys gasoline and groceries knows why the average Joe hasn’t the cash for a new car, and it has nothing to do with “presidential candidates telling you how bad it is.â€
Comment by Tony B. — April 3, 2008 @ 4:25 pm
#1, exactly the point in the sense that two of the three want to raise them bigtime while at the same time telling us how lousy things are. Higher taxes will make things lousier, hence the uncertainty as to whether these clowns understand the economy.
That’s the investor and entrepreneurial class. The everyday person’s confidence is being driven down by their negativity about the economy, the culmination of 4 years of trying to talk it down, or keep it from being all it could have been.
Comment by TBlumer — April 3, 2008 @ 4:30 pm
#2, I didn’t say it. It’s the quote of the day. Draw your own conclusions.
Were you accusing Bush-Cheney of talking down the economy in Nov-Dec 2000?
Comment by TBlumer — April 3, 2008 @ 4:41 pm
Tom, you did blame the candidates. Read your last sentence.
In response to your question, “Were you accusing Bush-Cheney of talking down the economy in Nov-Dec 2000?†-No, but I did spend a year listening to Republicans “talking down the economy†in the lead up to the 2000 election. Bet you were jawboning with the best of them.
Comment by Tony B. — April 3, 2008 @ 5:27 pm
#5, I was saying that (many of) the American people (using the term in the sense politicos do) feel that way. I didn’t say I did. Sorry.
But — Obama and Hillary are just part of an 7-plus year continuum of negativity by Dem pols and the media that in and of itself is probably worth a few tenths of a % of GDP every year — sort of a Democratic negativity tax, if you will. I don’t think they’re any worse (yet) than the previous 7-plus years. But they’re working on it.
As to 2000, I believe you were hearing voices; I hope you did something about it. I doubt you’ll find much of anything (in fact, I was following it, and I don’t remember anything of the sort) from either Bush, Cheney, or their officials saying the economy was bad, until it became obvious after the November election that it was getting bad. Before that during the campaign, they argued that it could use improvement, but bad, no.
I was personally hoping against hope that the dotcom bubble wouldn’t burst too quickly, and that Bush would have get the chance to save us from the full meltdown. That wasn’t to be.
Comment by TBlumer — April 3, 2008 @ 5:42 pm
Take it from one of the largest auto dealers in the area. Last night he said he didn’t listen to, read, or watch the news on any Lame stream media outlet. He keeps everything positive and tell his customers to do the same. Funny his sales are way ahead of anything in the history of his ownership. So the local media went to a few more dealers, same story. Don’t listen to the doom and gloom coming from the media who pick it up from democrats in a drive for power. The economy is fine, the democrats are stupid and yes the doom and gloom talk from Hussein and Shrillary does have a negative effect on the weak minded democrats. Even with all of the doom and gloom this country has made it better than any of the Socialist/Communist hell holes the liberals want to see us imitate.
Comment by Scrapiron — April 3, 2008 @ 9:23 pm
The negative talk on the economy has had it’s effect. Funny that a majority of people say ‘I’m doing fine but I heard others have it bad’. No one can find the others so they just spread the rumors. Soon your worst wishes will come true. You can talk yourself into the hospital and actually die with nothing wrong (other than in your mind) and you can destroy the economy the same way. Anyone notice things were fine, actually booming, for 6 years and in the past 14 months oil has doubled in price, the stock market has became shakey, the housing industry (it’s own fault) is having a hard time (in some areas). Anyone care to go back 14 months and see what caused the downturn. I believe in Jan 2007 the democraps took over congress and started the ‘raise taxes’ rant and badmouthing America. Talk has an effect and this time it’s bad…What I say is Boo Hoo Hoo, you wanted them, you got them, now live with them.
Comment by Scrapiron — April 3, 2008 @ 9:43 pm
#7 and #8, thanks. Great points.
Comment by TBlumer — April 3, 2008 @ 9:51 pm